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Asia

Chinese Shares Rise as Trade Surplus Exceeds Expectations; Hangzhou Gold Electronic Equipment Soars 625% in Shenzhen Debut

Chinese shares rose on Tuesday as the country's trade surplus outpaced consensus forecasts.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 1.3% to 4,010.03. The Shenzhen Component Index jumped 3.0% to 15,268.72.China's trade surplus expanded to $105.4 billion in May from $84.8 billion in April, higher than the consensus forecast of $88.7 billion tracked by Investing.com.Exports rose 19.4% year over year to $376.8 billion last month, exceeding the consensus forecast for a 15% growth and April's 14.1% expansion.Imports increased 27.4% to $271.3 billion, faster than the 25.3% jump in April and the consensus forecast for a 25% rise.In company news, Hangzhou Gold Electronic Equipment (SHE:301669) shares jumped 625% versus their initial public offering price of 7.08 yuan per share on their first day of trading on the Shenzhen bourse.

Shanghai Composite^SZSESHE:301669
China Trade Surplus Expands to Four-Month High as AI Boom Drives Exports
US Markets

China Trade Surplus Expands to Four-Month High as AI Boom Drives Exports

China's May trade surplus expanded to its highest level since January, driven by an artificial intelligence boom that offset the economic fallout from the war in Iran.Trade surplus grew to $105.4 billion in May from $84.8 billion in April, according to data from the General Administration of Customs released Tuesday.The reading was higher than the consensus forecast of $88.7 billion tracked by Investing.com.Exports rose 19.4% year over year to $376.8 billion, beating the consensus forecast for a 15% growth and exceeding April's 14.1% expansion.The surge in exports reflects continued support from AI-related hardware demand, as well as some front-loading of overseas orders in the midst of geopolitical uncertainties, Bloomberg reported, citing Guotai Junan International Holdings Chief Economist Hao Zhou.Computers and parts exports jumped 66% year over year in May, the fastest increase since 2010, and accelerating from a 47% rise in the previous month, according to the report.Integrated circuit exports soared 111%.Imports increased 27.4% to $271.3 billion, faster than the 25.3% jump in April. The consensus forecast was for a 25% rise.The jump in imports came as companies are also stocking foreign chips and equipment, Bloomberg said. Chinese imports of South Korean semiconductors surged more than 200% in May, according to the news outlet."For now, China's import growth remains mainly a tech story rather than an energy story, as evidenced by the surge in imports from Korea," ING Think's Greater China Chief Economist Lynn Song wrote.For the first five months, the trade surplus reached $451.7 billion, led by exports of $1.713 trillion and imports of $1.262 trillion during the period."A higher-than-expected surplus could help support growth in 2Q26, but year-to-date the surplus is still down around -3.8% YoY," Song added.

Shanghai Composite^SZSE
International

China's Trade Surplus Widens to $105 Billion in May

China's trade surplus expanded to $105.4 billion in May from $84.8 billion in April, according to data from the General Administration of Customs released Tuesday.The reading was higher than the consensus forecast of $88.7 billion tracked by Investing.com.Exports rose 19.4% year over year to $376.8 billion, hitting the consensus forecast for a 15% growth and exceeding April's 14.1% expansion.Imports increased 27.4% to $271.3 billion, faster than the 25.3% jump in April. The consensus forecast was for a 25% rise.

Shanghai Composite^SZSE
International

China's Car Sales Slump 22.3% in May

China's car sales dropped for the eighth straight month in May, posting a 22.3% year-on-year decline to 1.5 million vehicles, Reuters reported Monday, citing data from the China Passenger Car Association.Sales between January and May fell 19.7% to 7.2 million units, according to the media outlet.The decline reflected the impact of the oil price hikes brought by the Middle East conflict, according to the CPCA's secretary general, Cui Dongshu, the report said.The association said sales for the entire year were forecasted to dip 11%, wider than the predicted 1% decline, according to Reuters.

Shanghai Composite^SZSE
International

Asia Week Ahead: Inflation Prints; GDP Estimates; and Trade Balance

For the week ahead in Asia, inflation, trade and growth data will be in focus as investors assess the region's economic momentum.The week opens with Japan's revised first-quarter GDP figures, followed by trade data from China and Taiwan on Tuesday.Mid-week, China's consumer and producer inflation reports will dominate headlines, while Japan will release producer price data.Thursday will be led by unemployment figures from South Korea and Malaysia, before Friday brings India's inflation report.Here's what to watch in the week ahead.MONDAY, June 8The week was off to a relatively light, but notable start with Japan's first-quarter GDP growth rate.Japan's economy expanded at an annualized rate of 1.8% in the first quarter, according to final data released by the Cabinet Office. The reading was revised down from the preliminary estimate of 2.1% growth, but exceeded the market consensus forecast for a 1.3% increase, according to Trading Economics.The data comes as attention turns to the Bank of Japan's June 15-16 policy meeting, where policymakers are expected to consider another interest-rate increase. The growth figures are unlikely to derail expectations for further policy tightening.TUESDAY, June 9Data readouts will pick up Tuesday, starting with China's trade figures for May.Economists at ING said they expect China's exports to rise 19.5% year-on year and imports to gain 36.4% for a trade surplus of $86.5 billion. The surplus would be an increase from the $84.8 billion recorded in April, thanks in part to higher tech prices, which are boosting both export and import prices, ING said.Taiwan will similarly report trade figures, with ING expecting the island nation's trade surplus to rise to $15.5 billion from $14.4 billion in April. "Strong export orders from previous months suggest external demand remains robust amid the AI boom," ING said in a preview.Markets will be watching for any revisions to South Korea's first-quarter GDP growth rate when the Bank of Korea releases its final estimate on Tuesday.The central bank's advance estimate indicated that South Korea's real GDP increased 3.6% annually and 1.7% on a quarterly basis.In Australia, a pair of reports will capture business and consumer sentiment, while in the Philippines, unemployment stats will be due.Other key data scheduled for the day include Japan's machine tool orders.WEDNESDAY, June 10China's consumer and producer price inflation will dominate headlines Wednesday.Consumer prices are expected to show an uptick of 1.3% year on year in May from 1.2% a month prior, reflecting higher manufacturers' input and output prices due to the Middle East conflict, the Wall Street Journal reported.Japan will similarly report its May producer prices, with analysts expecting the PPI to accelerate to 5.5% year on year from 4.9% in April, according to a Trading Economics consensus.Indonesia will release its May consumer confidence report on the same day.THURSDAY, June 11Unemployment data from South Korea and Malaysia will be the highlight of the day.According to Trading Economics, South Korea's unemployment rate could remain unchanged at 2.80% in May. The platform similarly forecasted that Malaysia's unemployment would remain steady at 2.90%, a level it has held since November 2025.A forward-looking report on consumer inflation expectations will be due in Australia. According to Trading Economics, consumer inflation expectations could rise to 6.5% for June from the 5.6% estimated in May.Meanwhile, Indonesia will report its retail sales stats for April.FRIDAY, June 12India's May inflation data will be in the news Friday.Economists at ING said they expect consumer prices to pick up to 3.9% year on year from the 3.48% recorded in the month prior due to a rise in gasoline prices. Still, the figure would be below the Reserve Bank of India's 4% target."The key risk to the outlook lies in potential second-round effects on food inflation. Fertiliser shortages, alongside the rising probability of an El Niño event, could exert upward pressure on food prices in the coming months and warrant close monitoring," ING said in a preview.Friday will also feature industrial production reports from Japan, Malaysia, and Hong Kong, with Malaysia additionally reporting its retail sales stats for April.In Thailand, the consumer confidence report for May will be due.On the activity front, the Business NZ manufacturing purchasing managers' index report will be due in New Zealand. CommBank said it expects manufacturing activity in May to stabilize, or even lift somewhat, given a decline in fuel prices over late April and May.The Business NZ PMI previously dropped to 50.5 in April from 52.8 in March.

ASX 200^BSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSENifty 50^NZ50^PSEI^SETShanghai Composite^SZSETaiwan Weighted
Asia

China Shares Fall Amid Tech Selloff; GEM Down 5%

Chinese shares decline amid a selloff in technology stock following the recent release of strong U.S. jobs data.The Shanghai Composite Index, the main gauge of Chinese stocks, fell 1.7% to 3,959.34. The Shenzhen Component Index plunged 3.2% to 14,821.19.Fears of a rate hike by the U.S. Federal Reserve after strong U.S. jobs data triggered a selloff in technology stocks. According to CME FedWatch, markets are pricing in a 76% chance as of June 8 that the Fed will raise rates in December, up from 53.6% chance a week ago.The SSE Star 50 Index (SHA:000688) and the SZSE Technology Index (SHE:399339), which track the performance of the 50 largest and most liquid technology and innovation-focused companies listed on their respective bourses, were both down about 4%."Such a sharp decline is quite unexpected ... but it's more likely a short-term adjustment after such longtime discussions over tech bubbles," City News Service cited Deng Yichao, an analyst with Chinalin Securities, as saying.In company news, GEM (SHE:002340) signed an agreement with Ningbo Eastern Institute of Technology to jointly establish a solid-state battery cathode material joint laboratory. Shares of the waste resource comprehensive utilization company closed 5% lower Monday.

Shanghai Composite^SZSESHA:000688SHE:002340SHE:399339
Asia

UK Defends Bilateral Talks With China in Three-Day Asia Trip

U.K. Foreign Secretary Yvette Cooper defended their meeting with China, which is part of a three-day trip in Asia that included a visit to India."China is the second largest economy and like the U.K. is a permanent member of the UN Security Council. We must engage for the U.K.'s security and prosperity in line with British values," Cooper said in social media platform X.Cooper met with Foreign Minister Wang Yi to discuss issues such as the reopening of the Strait of Hormuz and the war in Ukraine, as well as the Ebola virus.Prime Minister Keir Starmer's government started to seek rekindling bilateral ties with Beijing with a visit to China in January, but tensions still remain, according to Nikkei Asia on Monday.The U.K. barred wind turbine manufacturer Ming Yang Smart Energy (SHA:601615) from constructing a factory in Scotland in March. Later in April, the government seized the ownership of British Steel from Chinese steelmaker Jingye Group, the report said.Sibylline's chief analyst, Sam Olsen, said the U.K. government is making a "pragmatic engagement" with Beijing but both sides are not defining the relationship in the same way. Meanwhile, China Strategic Risks Institute's Sam Goodman said the U.K. and China should have a relationship "built on reciprocity", which will require China to rebalance trade and open its market, as well as cease overcapacity, according to the media outlet.Meanwhile, Cooper met with Indian Prime Minister Narendra Modi to deepen relations under the India-U.K. Vision 2035 framework, which includes technology, defense, education and climate in its scope, Nikkei Asia said.

^BSENifty 50Shanghai Composite^SZSESHA:601615
Asia

Market Chatter: European Party Leader Calls for Tougher EU Trade Policy on China

Manfred Weber, leader of the European People's Party in the European Parliament, urged the European Union to adopt a stricter trade stance toward China, arguing that Beijing's manufacturing dominance poses growing risks to Europe's economy, Bild am Sonntag reported Sunday.Speaking to the newspaper, Weber said the EU can no longer afford to be complacent and must safeguard its economic interests, according to the report.He pointed to the bloc's daily trade imbalance with China, estimated at nearly 1 billion euros, warning that it threatens European industries and employment, Bild am Sonntag wrote.Weber said failure to act could severely weaken key sectors of Europe's economy, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE
Asia

China's First Prefabricated Computing Power Hub Begins Operations

China's first prefabricated computing power hub started operations on Saturday, state-owned CCTV reported Sunday.The facility, located in Qingdao, Shandong province, offers a more efficient and greener way to supply electricity to data centers, the report said.The power facility reduces carbon footprint by more than 30% and cuts cost by up to 20%, according to the report.Each piece of equipment is powered by three different sources, allowing it to withstand power fluctuations in the extrenal grid, CCTV said, citing Qingdao TGOOD Electric (SHE:300001) CEO Zhou Jun.

Shanghai Composite^SZSESHE:300001
Asia

Market Chatter: CSRC Says Offshore Accounts Safe, No Forced Liquidation

China's securities regulator said its crackdown on illegal cross-border securities trading will not lead to forced closure of mainlanders' offshore accounts or mandatory asset liquidation, Reuters reported Monday.In response to investor fears over $54 billion in assets, the China Securities Regulatory ​Commission said asset safety will not be affected by the rectification campaign. Existing accounts will remain open and holdings will not be forcibly cleaned up, according to the report.Mainland investors can still sell assets and withdraw funds from affected accounts, Reuters cited the CSRC as saying. However, overseas brokers must terminate illicit onshore services, including websites and trading software, within two years.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE
Asia

Market Chatter: SpaceX Asks Banks to Bar China, Hong Kong Investors From IPO

SpaceX has asked banks underwriting its $75 billion initial public offering to bar investors from Hong Kong and China from subscribing, Bloomberg News reported Friday.The company's instructions are based on guidance from the US International Traffic in Arms Regulations, which subjects investors from those regions to distribution restrictions, the report said, citing people with knowledge of the matter.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE
China's Forex Reserves Climb by $31.7 Billion in May to Highest Level Since 2015
US Markets

China's Forex Reserves Climb by $31.7 Billion in May to Highest Level Since 2015

China's foreign exchange reserves rose to their highest level in over a decade, according to data from the State Administration of Foreign Exchange on Sunday.The world's largest holdings of foreign exchange reserves increased by 0.93% in May, or $31.7 billion, to $3.442 trillion.The reading surpassed the $3.42 trillion median forecast in a Trading Economics survey of economists and marks the highest total since late 2015.SAFE attributed the improvement to factors such as the global macroeconomic environment and expectations regarding the monetary policies of major economies, the strong US dollar and higher prices of major major global financial assets."The combined effect of exchange rate conversion and asset price changes led to an increase in foreign exchange reserves that month," SAFE said in a statement."China's economy maintained a steady and progressive development trend, with solid progress in high-quality development, providing support for maintaining the basic stability of foreign exchange reserves."China's gold reserves rose by 320,000 troy ounces month over month to 74.96 million troy ounces at the end of May, state-run Global Times reported Sunday, citing SAFE data.The latest purchase extended the People's Bank of China's buying streak to 19 months, marking the longest since at least 2015, Bloomberg News reported.Financial analyst Zhao Qingming told Global Times that China's steadily growing gold purchases help the country bolster the structure of its reserves, while helping hedge against risks from major currency fluctuations.Zhao noted that rising gold reserves will shore up the yuan's credibility and establish a foundation for its internationalization.On Friday, the Chinese renminbi strengthened 46 pips to 6.8157 against the US dollar, according to the China Foreign Exchange Trade System.However, Carie Li, a strategist at DBS Bank Hong Kong, told Bloomberg over two weeks ago that "the PBOC may come in to smooth or slow down the yuan's appreciation" as "[c]orporates probably underhedged the FX risk," with over 1,000 China exporters flagging the yuan's continued strength in their earnings reports.

Shanghai Composite^SZSE
International

China's Forex Reserves Rise 0.93% in May

China's foreign exchange reserves rose 0.93%, or by $31.7 billion, to $3.442 trillion in May from $3.411 trillion in April, according to the State Administration of Foreign Exchange on Sunday.The latest figure was higher than Trading Economics' forecast of $3.42 trillion.

Shanghai Composite^SZSE
Asia

Market Chatter: China Solar Panel Makers Seek Foray into Storage Systems Amid Lower Photovoltaic Sales

China's top solar panel makers are scrambling to diversify into battery storage expansion as photovoltaic installations slow, Reuters reported Thursday, citing company executives.For instance, Jinko Solar (SHA:688223) is looking to grow its battery manufacturing capacity to up to 14 gigawatt-hours from 5 gigawatt-hours, Reuters said, citing regional technical head for energy storage systems Titus Koech.JA Solar Technology's (SHE:002459) battery products were on display at its booth during the SNEC photovoltaic conference, marking a shift from its usual solar energy demonstrations, the report said.LONGi Green Energy Technology (SHA:601012) advertised its solar-plus-storage integration on the conference's screen, the report said.For a Trina Solar (SHA:688599) executive, the integration is the "second growth curve" following solar energy, Reuters said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSESHA:601012SHA:688223SHA:688599SHE:002459
Asia

Fitch Equalizes Ratings of Four Largest Chinese Gencos With Sovereign's

Fitch Ratings has equalized the ratings of China's four largest central government-owned power generation companies with that of the sovereign, according to a recent release.The rating agency views the companies, including China Huaneng Group, China Huadian, State Power Investment, and China Datang, as having an increasing role in the country's economic and industrial priorities.Fitch revised its assessment of the companies' roles in the preservation of government to "very strong" from "strong."The rating agency also upgraded the ratings of China Huaneng Group, State Power Investment, and China Huadian to A from A-.The power generators are necessary for China's growth and competitiveness as reliable low-cost power supply has become a key support for high-end manufacturing, AI development, and rapid electrification, Fitch said.The generators' capacity to fulfill increasing power demand will depend on their delivery of large-scale renewable projects, the rating agency said.However, system credit risk could rise if any of the generators experienced financial stress, especially given their similar business profiles and operational linkages, Fitch said.

Shanghai Composite^SZSE
Asia

Market Chatter: Trump Officials Clash Over China Tech Policy Loopholes

An internal debate has consumed officials of the administration of U.S. President Donald Trump this week regarding the true scope of their year-long China technology strategy, Bloomberg News reported Friday.Sources indicate the administration may have unintentionally narrowed restrictions on Beijing's tech sector more than publicly acknowledged, according to the report.The potential gaps could permit Chinese firms like Alibaba to legally acquire servers equipped with Nvidia's most advanced AI chips outside mainland China, Bloomberg wrote.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE
International

China Says It's Open To Curbing Unfair Subsidies

China said it supports discussions on fair competition, including restricting industry subsidies "that distort market competition", a Ministry of Commerce official said Thursday.Commerce Vice Minister Li Chenggang, who is also China's international trade representative, made the statement at the World Trade Organization in Paris.The remarks came after the OECD, or the Organization for Economic ​Cooperation and Development, released a report that found that Chinese firms received government grants three or eight times more than firms in OECD countries.China has rejected the report, calling it "one-sided" and "biased."

Shanghai Composite^SZSE
Asia

Market Chatter: Top Chinese Insurers Start Buying Dimsum Bonds Through Bond Connect

China's top insurance companies made their pilot purchases of renminbi-denominated offshore bonds, called dimsum bonds, through the Southbound Connect program, Bloomberg News reported Friday, citing insiders.Ping An Insurance (SHA:601318, HKG:2318), China Life Insurance (HKG:2628, SHA:601628) and Taikang Insurance Group are among the top insurers that have access to the Bond Connect, the sources told Bloomberg.At least two insurers have bought the dimsum bonds since through the program, the report said.Ping An and China Life are yet to reply to' request for comment, while Taikang currently does not have an email address.In a reply, the National Financial Regulatory Administration told Bloomberg that it agreed to some of the insurers' moves to invest in eligible bonds through the program, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:2318HKG:2628SHA:601318SHA:601628
Asia

China Shares Down on Tech Selloff, Middle East Tensions; Tongding Interconnection Information Shares Fall 7%

Chinese shares were down on Friday amid a technology stock selloff and rising hostilities in the Middle East.The Shanghai Composite Index, the main gauge of Chinese stocks, declined 0.7% to 4,027.74. The Shenzhen Component Index fell 2.2% to 15,314.70.Profit-taking in technology stocks prompted a defensive shift among investors ahead of the weekend, Reuters reported. Also, a selloff driven by AI concerns after Broadcom's lackluster earnings report on Wednesday continued for a second straight day.Meanwhile, Hezbollah rejected a U.S.-brokered ceasefire deal between Israel and Lebanon.In company news, Tongding Interconnection Information (SHE:002491) completed the registration for two new companies in Shaoguan's Qujiang District in Guangdong, China. Shares of the industrial automation equipment manufacturer closed 7% lower Friday.

Shanghai Composite^SZSESHE:002491
Asia

Market Chatter: China Solar Giants Pivot to Battery Storage

Facing weaker domestic installations, slowing exports, and record-low prices, China's top solar panel makers are rushing into battery storage, Reuters reported Friday.Jinko Solar (SHA:688223) plans to boost storage capacity to up to 14 gigawatt-hours by year-end from 5 gigawatt-hours, according to the report.JA Solar (SHE:002459) showcased storage products at the International Photovoltaic Power Generation and Smart Energy Conference & Exhibition, marking a shift from pure photovoltaic displays, Reuters wrote.Trina Solar's (SHA:688599) storage shipments more than quadrupled year on year in the first quarter, according to the report.Executives see storage as "the second growth curve" as global demand for renewables storage surges, Reuters wrote.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSESHA:688223SHA:688599SHE:002459

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